Embedded finance solutions in less developed markers are becoming more prominent as platforms look to provide various financial solutions to the unbanked and underserved. Banking infrastructure providers are mainly responsible for the proliferation of such solutions. They allow businesses such as mobile operators, e-commerce platforms and logistics companies to embed and enable banking products for their customers.
Credable, an upstart in this category that provides its clients with the technology stack, scoring capabilities and banking partners, has raised a $2.5 million seed round. It follows the pre-seed round of the embedded finance platform secured in early 2021 and led by The Continent Venture Partners (TCVP).
Last May, Credable launched officially with two products: a 30-day term loan product in partnership with Vodacom M-Pesa in Tanzania and a short-term lending product for Diamond Trust Bank in Kenya. Since then, the fintech has enabled over six products for various businesses, from…
